HEADLINE STOCKS-Some U.S. stocks on the move on July 7
(Updates to after the open, adds ConocoPhillips, Southwest Airlines, Fluor and Weyerhaeuser. Updates Boeing.)
NEW YORK, July 7 (Reuters) - Some U.S. stocks on the move on Tuesday:
INTEL CORP (INTC.O)
Bank of America-Merrill Lynch upgraded the company to "buy" from "neutral" as part of a larger call on the semiconductor sector. [ID:nWNAB4817]
Shares of the Dow component rose 2.1 percent to $16.88.
WEYERHAEUSER CO (WY.N)
The company set a dividend of 5 cents a share, down 80 percent from its previous payout.
Shares fell 3.2 percent to $29.04.
KING PHARMACEUTICALS INC (KG.N)
PAIN THERAPEUTICS INC (PTIE.O)
The pharmaceutical companies may not resubmit their application for their experimental pain drug Remoxy until the middle of next year. [ID:nN07304722]
Shares of King slid 0.6 percent to $9.45 while Pain Therapeutics sank 11.1 percent to $4.87.
BOEING CO (BA.N)
Sanford C. Bernstein raised its price target on Boeing Co (BA.N) to $42 from $40 on an expected economic recovery in 2010 and a modestly higher delivery rate forecast for 2009 and 2010. [ID:nBNG385698]
In addition, Boeing also said it would buy a plant that makes part of the fuselage of its 787 Dreamliner for $580 million. [ID:nN07308292]
Shares of Boeing, a Dow component, fell 1.3 percent to $40.03.
CONOCOPHILLIPS (COP.N)
The oil company forecast pretax exploration expenses of $225 million for the second quarter and anticipates second-quarter production on a barrel-of-oil equivalent per day basis to be about 1.86 million boe per day. [ID:nWNAB4866]
Shares fell 1.2 percent to $40.33.
FLUOR CORP (FLR.N)
The company won a contract to build infrastructure and facilities for the first phase of Imperial Oil's (IMO.TO) Kearl oil sands project in Alberta. [ID:nN07306463]
Shares rose 0.5 percent to $47.74.
3M CO (MMM.N)
Jefferies & Co started coverage on 3M with a "buy" rating, expecting the Dow component to deliver earnings growth above the broader market this cycle. [ID:nBNG530465]
Shares of the Dow component rose 0.1 percent to $60.74.
KEYCORP (KEY.N)
Keefe, Bruyette & Woods upgraded KeyCorp to "outperform" from "market perform," citing the bank's valuation and strong capital levels. [ID:nBNG114301]
Shares rose 4.3 percent to $5.30.
SOUTHWEST AIRLINES CO (LUV.N)
The company launched a large two-day fare sale. Under the promotion, one-way tickets will range from $30 to $90 for cities nationwide, depending on distance. [ID:nN07164101]
Shares fell 1.8 percent to $6.48.
GREENBRIER COMPANIES INC (GBX.N)
The company reported a surprise third-quarter profit and said it would furlough 550 additional workers as it ceases railcar production at a facility in Mexico. [ID:nBNG397343]
Shares sank 7.5 percent to $6.40.
INTERNATIONAL SPEEDWAY CORP (ISCA.O)
The company reported its second-quarter results, swinging to a loss weighed down by impairment charges and slow demand for ticket sales. It affirmed its full-year outlook, though it remains more comfortable at the lower end of its fiscal year earnings range. [ID:nBNG229785]
Shares rose 1.9 percent to $25.77.
DEUTSCHE BANK AG (DB.N) (DBKGn.DE)
The company agreed to sell a 1.8 million square-foot skyscraper in New York City for $600 million, according to a report in the Wall Street Journal. [ID:nBNG371659]
Shares of Deutsche Bank rose 2.2 percent to $59.66 on the New York Stock Exchange.
DISCOVER FINANCIAL SERVICES (DFS.N)
The company will offer $500 million of common stock and use the proceeds to help repay $1.2 billion the credit card issuer received in government bailout funds. [ID:nN06274447]
Shares fell 10.5 percent to $9.40.
HANSEN MEDICAL INC (HNSN.O)
The company reported preliminary second-quarter revenue below expectations, citing delay in purchase decisions by customers. [ID:nBNG382861], sending its shares tumbling 33.6 percent to $3.14 (Reporting by Ryan Vlastelica; Editing by Theodore d'Afflisio)
